economy
News on the global economies
71% of Nigerian Households Struggle with Soaring Food Prices: Urgent Action Needed
A recent report by the National Bureau of Statistics (NBS) has unveiled a troubling reality: 71% of households in Nigeria are grappling with the adverse effects of skyrocketing food prices.
With inflation reaching historic levels and essential goods becoming increasingly … Continue Reading
Trump Picks Former WWE Executive Linda McMahon to Lead Education Department
Ex-WWE CEO Linda McMahon Tapped to Lead Education Department as Trump Pushes Bold Reforms, Advocates for Returning Control to States and Empowering Parents
In a move that underscores his commitment to decentralizing federal control, U.S. President-elect Donald Trump has nominated … Continue Reading
FG, States, LGAs Share N1.41tn October Revenue – FAAC
Abuja, Nigeria – The Federal Government, states, and Local Government Areas (LGAs) have collectively shared N1.41 trillion as revenue for October 2024, marking an 8.7% increase compared to the N1.298 trillion distributed in September.
This was disclosed on Wednesday in … Continue Reading
Do You Know Ivory Coast and Ghana produce 60% of the world’s cocoa? Prices Surge as Chocolate Demand Soars
Cocoa futures have surged by 16% in November 2024, bringing year-to-date gains to over 100%, as supply shortages and adverse weather in major producing regions collide with rising global demand for chocolate.
The market’s volatility reflects an increasingly fragile … Continue Reading
Trump Picks Howard Lutnick As Commerce Secretary, Signals Tougher Trade Stance on China
Trump’s Commerce Secretary Pick Howard Lutnick Signals Tougher Trade Policies, Especially Toward China
In a move signaling a hardline shift on trade, President-elect Donald Trump has named Howard Lutnick, co-chair of his transition team and CEO of financial services … Continue Reading
Boost for Nigerian Students: Canada Increases Off-Campus Work Hours to 24 Per Week
New Policy Boosts Off-Campus Work Opportunities for International Students While Addressing Canada’s Labor Needs
Canada has introduced a significant policy shift, allowing international students, including Nigerians, to work off-campus for up to 24 hours per week during academic terms. This … Continue Reading
Denmark Opens Doors to Skilled Nigerian Workers, Families, Others in 2025: New Policy Changes Unveiled
Dreaming of a Scandinavian adventure? Denmark, famed for its breathtaking landscapes, high quality of life, and progressive policies, is rolling out the red carpet for skilled workers and their families in 2025. With sweeping updates to its Positive List and
… Continue Reading
Prayers Saved Nigeria from ₦10,000/$1 Exchange Rate – Pastor Adeboye
Pastor Adeboye Attributes Nigeria’s Economic Survival to Divine Intervention Amid Fuel Crisis and Naira Devaluation
The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has credited prayers and divine intervention for preventing the Nigerian naira … Continue Reading
Moniepoint Pursues Commercial Bank License to Revolutionize Nigerian Banking Sector
Nigeria’s Fintech Giant Moniepoint Seeks commercial banking license in a game-changing move to Revolutionize Banking Services, Challenge Traditional Banks, and tap into lucrative markets.
Moniepoint, one of Nigeria’s fast-growing fintech companies, is making strategic moves to secure a commercial banking … Continue Reading
CBN Targets 28 Million Unbanked Nigerians in Bold Financial Inclusion Drive
CBN Pushes for Financial Inclusion to Drive Economic Growth
At the recent 2024 International Financial Inclusion Conference in Lagos, the Central Bank of Nigeria (CBN) revealed a concerning statistic: 28 million Nigerians remain without access to formal banking services. CBN … Continue Reading